One drawback if I’m asked about this crossover is that it doesn’t work well in a sideways environment showing unprofitable buy and sell signals.
To train on a demo account is the most correct decision before starting trading on a real account, if you do not want to go into losses.
Yeah but the timely exit signal is what bought me. I’ve made quite a number of profitable trades with fxview and pepperstone by exiting on time after locking the profits.
Combine the price action with the short-term moving average crossover signal. There’ll be less false trading signals.
Well yeah demo accounts are used mainly for testing purposes. There are high chances that the real market conditions like liquidity aren’t reflected accurately.
won’t say that demo accounts are like live accounts but then this depends on your brokers. I’ve tried and still demo trade sometimes to test the strategies with fxview and avatrade and their demo accounts are exact replicas of the live accounts, like real market conditions and prices.
Nope Cortney, they don’t come with an expiry date. Try them till the time you’re confident to trade live. You will just have to recreate the account after a month with some brokers.
Yeah mate they are different. Take for example the spreads. With demo accounts, the spreads are tighter but with the live account, the spreads can vary by 1pip.
Each broker offers its own trading conditions, even small differences in trading conditions can seriously affect the trading result - and this is another reason to practice in demo mode when mastering a new platform.